The crypto money bill submitted to Congress on June 7 by Bitcoin (BTC) supporter senators Cynthia Lummis and Kirsten Gillibrand continues to be discussed. After SEC Chairman Gary Gensler, who shared his thoughts on the bill, Christy Goldsmith Romero, a member of the Commodity Futures Trading Commission (CFTC), also shared his thoughts.

Speaking at an event on Tuesday, CFTC member Romero welcomed the bill, emphasizing the need for more clarity on cryptocurrency regulations and laws.

   “I would like to say that I welcome this regulatory action by Congress, but there needs to be more clarity on cryptocurrency laws and regulations. This will enable further development of the cryptocurrency industry and greater consumer protection.”

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Romero, who is also a former senior adviser in the SEC's enforcement division, was asked if the view that the CFTC is a more liberal regulator compared to the SEC is correct. Answering "no" to this question, Romero continued his words as follows:

   “It is not true that the CFTC is more liberal than the SEC, in fact, their stance on this issue is quite similar. Every institution in the market attaches importance to the strict supervision of the market. However, there are differences between us and the SEC. Because more cryptocurrencies on the CFTC regulated exchanges "What this means is that the CFTC is very experienced in this and knows how to regulate trade in this market. I still believe 100% that cooperation and coordination with the SEC will be necessary."

SEC Chairman Gary Gensler said the bill on cryptocurrency regulation introduced by senators could unintentionally “weaken” other market protections.

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The amount of BTC transferred by Bitcoin miners to the stock market is at the highest in the last 7 months

The amount of BTC that miners transferred to crypto exchanges reached 9,476 units, the highest level in the last seven months. The increase in funds flows indicates that miners intend to sell their BTC in anticipation of a price drop. The activities of BTC miners often reflect broader market sentiment as they often sell BTC to avoid losing money on mining payments. The huge drop in mining profitability is the biggest reason for the increase in sales activity of Bitcoin miners.